Notes from Trenton Truitt’s Presentation on MEDDICC

Continuing with yesterday’s post on MEDDICC Forecasting Methodology, Trenton Truitt has a great video titled PagerDuty’s VP Sales: Managing Enterprise Sales where he talks about MEDDICC in detail. Here are the notes from his slides:

• Metric
  • Define, capture and communicate the values used to make a decision
  • More than the ROI on the project
  • Why – Share similar success stores and build metrics for your champion
  • How – Arm the champion with a narrative to save/make money
• Economic Buyer
  • The person who owns the budget for your service
  • Why – Shorten the sales cycle
  • How – Ask your champion
• Decision Criteria
  • The values by which your service is evaluated
  • Why – Control the criteria or it will control you
  • How – Ensure your strengths are part of the criteria. Understand your competition’s technology. Lay traps for your competition.
• Decision Process
  • Answer three questions:
    • How are decisions made?
    • Who is in the power base?
    • Who will move each stage forward?
  • Why – Forecast your sales. Focus your resources. Protect your time.
  • How – Ask the client to walk you through the decision process. Then ask the same question of everyone you meet. Trust, yet verify.
• Identify Pain Points
  • The measurable problem your solution will solve
  • Why – Understand the value of the problem you are solving.
  • How – Ask the EB or Champion.
• Champions
  • The person that will stake their badge on your technology
  • Why – A champion sells for you when you aren’t in the building. Nothing happens without a champion. Period.
  • How – Find the right person who has a way-in to sponsor your solution. Arm them with Metrics.
• Compelling Event
  • An event that drives the timing of a decision
  • Why – Understand when the client needs to be up and running. Work with your champion to create the reason.
  • How – Ask. What are the implications of not having a solution implemented by X-date. Write the narrative.

Want to learn more about MEDDICC? Head on over and watch the video.